FAQ - Loans

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Pembrokeshire Lottery Small Steps to Enterprise


Are retail sector businesses eligible for a loan?
Yes, ALL types of businesses will be considered, both new and established, operating in any sector.

How long can the payments be spread over?
Two to five years.

How much can I borrow?
2,000 to 35,000 or a maximum of 35% of the capital required for a project - whichever is the lesser.

How do I make repayments?
On the first day of each month, by standing order.

Does my business have to be based in Pembrokeshire?
Yes, only businesses providing employment in Pembrokeshire will be considered.

Does the project have to be creating a new job?
The aim of the scheme is to consolidate and create permanent secure employment within the county and so we ask that for loans up to 10,000 a minimum of one job is created or two retained and for loans greater than 10,000 a minimum of two jobs created or four jobs retained.

Can I use a Pembrokeshire Lottery Loan for refinancing?
No you cannot, the loan does not act in place of conventional funding, it should be syndicated with other sources where a funding gap exists.

Does the society check credit history of applicants?
All applications will be credit checked. Any outstanding credit judgments will generally render the project ineligible.

Do I have to play the Pembrokeshire Lottery to qualify?
All applicants should be contributing members of the Lottery and remain so for the duration of any loan granted.

How long will it take to receive the cheque if my application is successful?
If the Investment Panel approves your application and all conditions are met, then the cheque is available straight away.

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